In a statement it said: “For bakery products, 2009 was geared towards the integration of Panavi and the increase in production efficiency. The integration of Panavi is perfectly on schedule and the results are satisfactory.”

The company said that at its annual general meeting it appointed two new independent board members. The newcomers are Alfred Bouckaert, until recently CEO Norcee Axa) and Michel Léonard, recently the head of Lactalis, the second biggest French dairy company.

The board now consists of 13 members.

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